Tesla Has to Sell More Cars Than Is Even Theoretically Possible

Here’s a pop quiz for you: In what year did Tesla shoot up nearly 4X, as shown in this chart?Q3 2020 hedge fund letters, conferences and moreI know, it looks like Covid’s meteoric rally, but the correct answer is 2013.A year after Tesla rolled out its first electric sedan, Tesla S, its stock soared 360%. But investors quickly realized Tesla was way ahead of its time and gave out. For the next six years, Tesla stock went nowhere.It appears that investors are again putting Tesla in a similar situation. They’ve bid up the stock to a price that suggests it will sell more cars than is even theoreti…

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